96 W Emery Street in London: South E Multi-4 Unit for sale (South) : MLS®# 40778135

This legal triplex with rental license in place is larger than it appears with big addition in the back and walk-out basement entrances, which features a bonus fourth suite. The main floor unit features 4 beds and 2 full baths, projected to be rented for $2575/month. The upper 1 bed and 1 bath unit is rented for $1295/month. The downstairs rear walk-out unit is rented for $1500/month and the other side access walk up basement suite is projected to be rented for $1300/month . This brings the cumulative rent to $6670/month. The very low property taxes ($241/month) grandfathered also helps with a projected Cap Rate of 8.6%+, projected net operating income (NOI) of over $60,000 annually. Over $150,000 was invested during the current ownership, with extensive upgrades on everything from brand new 200 amp electric panel, new flooring, interconnected fire separations, quartz countertops, tiled showers, upgarded HVAC with vents in all 5 bathrooms, cosmetic improvements of 2 bathrooms, and 3 completely renovated bathrooms. Property features triple wide driveway with room for a fourth car to park in tandem; offering an independent parking spot for each unit. The greenspace of the oversized deep backyard, features many mature trees and is fully fenced in. Energy efficient upgrades were also carried out, including a smart thermostat install and a new Central AC unit being added in 2025. Fire and safety improvements include sprinklers, egress windows, and fire doors. Manor Park, which is Old South adjacent is an excellent community, with direct transit access, great green spaces including Eustace Park/The Coves, and ample ammenities. This location is one bus to Western University, Fanshawe College, White Oaks Mall, Masonville Mall, Victoria Hospital, University Hospital and Downtown London.

Documents & Links:

Feature Sheet

Sales Brochure

General Info:

Property Type:: Residential Income

Property SubType:: Multi-4 Unit

Year built:: 1951 (Age: 74)

Listing General Location:: South E, South

Bedrooms:: 7

Bathrooms:: 5.0 (Full:-/Half:-)

Lot Size:: 4,792 sq. ft.445 m2

Lot Details:: 35.05 x 137.16

Lot Depth:: 137'2"41.8 m

Lot Frontage:: 35'1"10.7 m

Frontage Type:: North

Lot Shape:: 35.06 ft x 137.16 ft x 35.05 ft x 137.18 ft

Kitchens:: 0

Elementary School:: Woodland Heights Public School, St. Martin Catholic Elementary School

High School:: Westminster Secondary School, Catholic Central High School

County Or Parish:: Middlesex

Taxes:: Signup

Additional Info:

Features:: Attached Garage: No, Crops Included: No, Garage: No, Inspection Fire: Yes, New Construction: No

Construction:: Aluminum Siding

Basement:: Separate Entrance, Walk-Out Access, Walk-Up Access, Other, Full, Finished

Foundation:: Concrete Block, Poured Concrete

Roof:: Asphalt Shing, Shingle

Number of Storeys:: 1

Number of Buildings:: 0

Total Floor Area:: 1,983 sq. ft.184 m2

Finished Area Above Grade:: 1,306 sq. ft.121 m2

Finished Area Below Grade:: 677 sq. ft.62.9 m2

Fireplace:: false

Inspection Fire Date:: Jun 28, 2024

Laundry Features:: None

Water Supply:: Municipal

Water Meter:: Yes

Water Treatment:: No

Sewer:: Sewer (Municipal)

Cooling:: Central Air

Heating:: Forced Air, Natural Gas

Age Electric:: Most 3 Yrs

Age Plumbing:: Most 3 Yrs

Features Included:

Carbon Monoxide Detector,Hot Water Tank Owned,Smoke Detector,5 Fridges, 4 Stoves, 3 Exhaust Vent Hoods, 3 Microwaves, Stacked Washer & Dryer Combo, Washer, Dishwasher, Hot Water Heater (Owned)

Appliances Included:

Hot Water Tank Owned, Dishwasher, Dryer, Refrigerator, Stove, Washer

Features Excluded:

Tenant Owned Belongings / Personal Items

Interior Features:

Accessory Apartment, Upgraded Insulation, Other

Exterior Features:

Awning(s), Private Entrance, Year Round Living

Patio And Porch Features:

Deck, Patio, Porch

Waterfront:

false

Docking:

Directions:

WHARNCLIFFE RD SOUTH TO EMERY STREET WEST. THE PROPERTY IS LOCATED ON THE NORTH SIDE OF EMERY STREET WEST BETWEEN WINSTON AVE AND HIGHWOOD AVE.

Restrictions:

None

Senior Community:

Security Features:

Carbon Monoxide Detector, Smoke Detector, Carbon Monoxide Detector(s)

Financial Info:

HST Applicable To Sale Price:: Included

Association Fee:: Signup

Association Fee Frequency:: Signup

Association Fee 2:: Signup

Association Fee 2 Frequency:: Signup

Administrative Fee:: Signup

Features:: Attached Garage: No, Crops Included: No, Garage: No, Inspection Fire: Yes, New Construction: No

Road Access Fee:: Signup

Electric Expense:: $0

Insurance Expense:: $3,400

Expenses:: Estimated

Heating Expense:: $1,164

Snow Garbage Expense:: $0

Trash Expense:: $0

Utilities Expense:: 4644

New Tax Expense:: $0

Laundry Income:: $0

Laundry Rentals:: 0.0

Net Income:: $59,513

Other Income:: $0

Lease to Own Equipment:: None

Leases:: Yes

Under Contract Costs Monthly:: $.00

Legal Info:

Zoning:: R1-4

Land Info:

Total Acres:: 0.11

Fencing:: Full

Exposure / Faces:: South

Lot Site Features:: Rectangular, Ample Parking, Dog Park, Hospital, Major Anchor, Open Spaces, Park, Place of Worship, Playground Nearby, Public Transit, Quiet Area, Rec./Community Centre, School Bus Route, Schools, Shopping Nearby, Trails, Other